North Peak Capital Management LLC Sells 93,947 Shares of Carvana Co. (NYSE:CVNA)

North Peak Capital Management LLC decreased its stake in shares of Carvana Co. (NYSE:CVNA) by 39.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 145,094 shares of the company’s stock after selling 93,947 shares during the period. Carvana accounts for approximately 3.6% of North Peak Capital Management LLC’s portfolio, making the stock its 7th biggest position. North Peak Capital Management LLC’s holdings in Carvana were worth $25,262,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Forum Financial Management LP increased its stake in Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after purchasing an additional 76 shares during the last quarter. Empirical Asset Management LLC raised its stake in Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after acquiring an additional 100 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Carvana by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock valued at $586,000 after acquiring an additional 115 shares in the last quarter. Bleakley Financial Group LLC grew its stake in Carvana by 6.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after buying an additional 130 shares during the last quarter. Finally, CWM LLC grew its position in shares of Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $135.73, for a total value of $10,179,750.00. Following the completion of the transaction, the insider now directly owns 40,583,131 shares of the company’s stock, valued at $5,508,348,370.63. The trade was a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 20,000 shares of Carvana stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $241.78, for a total value of $4,835,600.00. Following the sale, the chief financial officer now owns 170,732 shares of the company’s stock, valued at approximately $41,279,582.96. This represents a 10.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,318,063 shares of company stock worth $420,434,579. Insiders own 17.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CVNA shares. Robert W. Baird raised their price target on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Evercore ISI lifted their target price on Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and upped their price target for the stock from $166.00 to $170.00 in a research note on Monday, August 19th. BTIG Research lifted their price objective on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Wedbush upped their price objective on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $217.71.

Carvana Price Performance

Shares of NYSE:CVNA opened at $260.80 on Tuesday. The business’s 50 day simple moving average is $206.13 and its 200-day simple moving average is $155.75. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm has a market capitalization of $54.15 billion, a price-to-earnings ratio of 26,106.11 and a beta of 3.37. Carvana Co. has a 12 month low of $29.84 and a 12 month high of $268.34.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the firm earned $0.23 EPS. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. As a group, equities analysts forecast that Carvana Co. will post 0.76 earnings per share for the current fiscal year.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.